Obama's Budget Reflects Reelection Agenda

President Barack Obama delivering his 2013 budget address to students at Northern Virginia Community College.
(Getty)

President Obama presented his 2013 budget to Congress on Monday that includes $1.5 trillion in new taxes over the next ten years for the wealthiest taxpayers, closing some corporate tax breaks, and allowing Bush-era tax cuts to expire. However, it's not all cuts: the budget outlines increased spending for infrastructure projects, job-training, and innovation. Overall, it aims to lower the deficit below $1 trillion.

Jackie Calmes is the White House correspondent for our partner The New York Times.